ENTREPRENEURSHIP

lesson 1

ALOHA T. NAVAL LPT

BSBA/MARKETING
PRE TEST
 ACTIVITY 2 - QUALITIES OF
ENTREPRENEURS: A SELF-
ASSESSMENT
THIS ENTREPRENEURIAL SELF-TEST WILL HELP YOU DETERMINE IF YOU POSSESS SOME BASIC
TRAITS NEEDED BY AN ENTREPRENEUR.
THE RESULTS OF THE SELF-TEST AND SELF-EXAMINATION OF THE GUIDELINES CAN BE A
STARTING POINT IN THE DISCOVERY OF YOUR STRENGTHS AND WEAKNESSES, AND AREAS FOR
IMPROVEMENT.
 SCORES PER ANSWER:
YES – 3 POINTS
MAYBE – 2 POINTS
NO – 1 POINT
TOTAL SCORE INTERPRETATION:
60-75 - YOU HAVE THE QUALITIES OF AN ENTREPRENEUR.
48-59 - YOU HAVE THE POTENTIAL BUT NEED TO PUSH
YOURSELF.
37-47 - YOU MAY WANT TO START A BUSINESS ALONE.
BELOW 37 - SELF-EMPLOYMENT MAY NOT BE FOR YOU.
FILL UP THE SHEET BELOW BASED ON THE SCORE FINDINGS AND
INTERPRETATIONS YOU OBTAINED.
1. NAME: _____________________________________________
2. TOTAL SCORE: _________________________________________
3. TOTAL SCORE INTERPRETATION: ______________________________
4. MY ENTREPRENEURIAL QUALITIES THAT I NEED TO IMPROVE (WHERE I
ANSWERED “NO”)
______________________________________________________________
___________________________________________________________
_____________________________________________________________
_____________________________________________________________
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GREAT! NOW THAT YOU HAVE ALREADY EXAMINED YOURSELF IF YOU
POSSESS SOME OF THE ENTREPRENEURIAL TRAITS.

ARE YOU NOW READY FOR THE NEW LESSON?

I’M SURE YOU ONLY THOUGHT THAT ENTREPRENEURSHIP IS JUST
SELLING A PRODUCT OR OFFERING A SERVICE KIND OF
BUSINESS. NOW, YOU WILL DISCOVER THAT THERE IS MORE TO
ENTREPRENEURSHIP.
 ENTREPRENEURSHIP
IS A SCIENCE OF CONVERTING IDEAS INTO BUSINESS
IT IS A PROCESS OF ACTIONS OF AN ENTREPRENEUR WHO IS ALWAYS IN
SEARCH OF SOMETHING NEW TO EXPLOIT NEW IDEAS INTO GAINFUL
OPPORTUNITIES BY ACCEPTING THE RISK AND UNCERTAINTY OF THE
ENTERPRISE. IT IS ABOUT EXECUTION OF IDEAS.
 ENTREPRENEUR
DERIVED FROM THE FRENCH VERB ENTERPRENDRE WHICH MEANS
“TO UNDERTAKE”.
THEY ARE INNOVATORS, WILLING TO TAKE RISKS AND
GENERATE NEW IDEAS TO CREATE UNIQUE AND POTENTIALLY
PROFITABLE
SOLUTIONS TO MODERN-DAY PROBLEMS. THEY ARE THOSE WHO
“UNDERTAKE” THE RISK OF NEW ENTERPRISE.
 ENTERPRISE
IS AN ORGANIZATION THAT IS ENGAGE IN COMMERCIAL ACTIVITIES – THE
TRADE OF GOODS OR SERVICES, OR BOTH, WITH CONSUMERS. ITS GOAL
BASICALLY, IS TO EARN PROFIT. PROFIT IS THE RETURN OR COMPENSATION
TO THE ENTREPRENEUR FOR TAKING ON THE RISK OF DEVELOPING AN IDEA
INTO AN ACTUAL BUSINESS VENTURE. IT IS CREATED BY AN
ENTREPRENEUR AND THE PROCESS OF ITS CREATION IS CALLED
ENTREPRENEURSHIP.
 ENTREPRENEURIAL
IDEA
IS A SPECIFIC INNOVATIVE WAY TO
SATISFY WANT, OVERCOME A
PROBLEM, OR MEET A CHALLENGE.
 TYPES OF ENTERPRISES
ACCORDING TO CONCEPT
1. AN ENTERPRISE CAN INVOLVE A NEW CONCEPT.
THIS USUALLY MEANS CREATING OR STUMBLING ON A
NEW IDEA OR CONCEPT, AND CREATING OR INVENTING
SOMETHING RADICALLY NEW. THE INVENTOR THEN BUILDS A
NEW BUSINESS AROUND THIS PRODUCT. AN EXAMPLE OF A
KEEN INNOVATOR WHO HAD AN UNCANNY KNACK OF CREATING
NEW PRODUCTS THAT CAPTURED PEOPLE’S IMAGINATIONS AND
CONVINCED THAT THEY NEEDED THESE PRODUCTS IS THE GENIUS
MAVERICK STEVE JOBS.
 2. AN ENTERPRISE CAN BE BUILT ON AN EXISTING
CONCEPT, BUT GIVE RISE TO A NEW BUSINESS.

AN EXAMPLE OF THIS IS MANG INASAL. IT OFFERS

CHICKEN IN A NEW LIGHT: GRILLED CHICKEN AS FAST
FOOD. WITH THIS NEW CONCEPT, MANG INASAL,
WHICH STARTED IN THE VISAYAS, TOOK THE COUNTRY
BY STORM BECAUSE ITS FOUNDER, EDGAR “INJAP” J.
SIA, CORRECTLY PERCEIVED A NEED OF PEOPLE FOR
AFFORDABLE, QUICK-SERVE INIHAW OR GRILLED
CHICKEN. THUS, THIS BUSINESS WAS FOUNDED AND
FLOURISHED, TO THE EXTENT OF OFFERING VERY REAL
COMPETITION TO THE JOLLIBEE’S POPULAR CHICKEN
JOY.
 3. AN ENTERPRISE CAN INVOLVE AN EXISTING
CONCEPT AND AN EXISTING BUSINESS.
AN ENTREPRENEUR CAN HAVE A LAUNDRY BUSINESS.
DEAN OF CLEAN, FOR
EXAMPLE, HAD THREE BRANCHES IN METRO
MANILA, MOSTLY IN THE CENTER AND SOUTH AREAS
OF THE METROPOLIS. THE SON OF THE OWNER,
WHILE STILL IN COLLEGE, WAS PERMITTED BY HIS
PARENTS TO SET UP A FOURTH BRANCH IN QUEZON
CITY. ALTHOUGH THE NEW STORE WAS BUILT ON AN
EXISTING BUSINESS – IT IS STILL A LAUNDRY SHOP, IT
REQUIRED THE YOUNG ENTREPRENEUR TO TAKE
SOME PERSONAL, FAMILY, AND FINANCIAL RISKS.
THE SETTING UP OF BRANCHES OR FRANCHISES CAN
BE CONSIDERED AN EXAMPLE OF THIS TYPE OF
ENTERPRISE.
 THUS, IN SUMMARY, AN ENTREPRENEURIAL
ENTERPRISE CAN INVOLVE:
A. NEW CONCEPTS AND/OR A NEW BUSINESS
B. EXISTING CONCEPT AND/OR NEW BUSINESS
C. EXISTING CONCEPT/EXISTING BUSINESS
THE TRAITS/QUALITIES OF AN ENTREPRENEUR:

A. INITIATIVE DOES THINGS BEFORE BEING ASK

B. PROACTIVE IDENTIFIES AND UTILIZES OPPORTUNITIES

C. PERSEVERANCE WORKS AGAINST ALL ODDS TO OVERCOME OBSTACLES AND IS

NEVER COMPLACENT WITH SUCCESS

D. PROBLEM-SOLVER INTRODUCES INNOVATIVE SOLUTIONS TO ANY OBSTACLES AND

PROBLEMS IN THE ENTERPRISE

E. PERSUASION CONVINCES CUSTOMERS AND FINANCIERS TO PATRONIZE HIS

BUSINESS

F. SELF-CONFIDENCE MAKES DECISIONS AND STICKS TO HIS DECISIONS

G. SELF-CRITICAL LEARNS FROM HIS MISTAKES AND FROM THE EXPERIENCES OF OTHERS

H. A PLANNER COLLECTS INFORMATION, PREPARES A PLAN, AND MONITORS

I. RISK-TAKER WILLING TO TAKE CALCULATED RISKS

J. CREATIVITY IS THE ABILITY TO COME UP WITH CLEVER, WORKABLE SOLUTIONS

K. BUSINESS-LIKE ATTITUDE POSSESSING THE KNOWLEDGE OF YOUR CHOSEN BUSINESS AND

HAVING THE SAVVY TO CONDUCT BUSINESS.

L. CONFIDENCE IN HAVING A FIRM BELIEF IN YOUR OWN CAPABILITIES AND YOUR

CHANCES OF SUCCESS.

M. RELATION SKILLS THE ABILITY TO GET ALONG WITH OTHERS, TO INSPIRE

COOPERATION, CONFIDENCE, AND LOYALTY

N. COMMUNICATION SKILLS ARE THE ABILITY TO EXPRESS YOURSELF AND TO UNDERSTAND

OTHERS SO THAT IDEAS CAN BE SHARED.

O. ABILITY TO MAKE DECISIONS

 RELEVANCE OF ENTREPRENEURSHIP
A) DEVELOPMENT OF MANAGERIAL CAPABILITIES

■ ENTREPRENEURSHIP HELPS IN IDENTIFYING AND DEVELOPING THE MANAGERIAL CAPABILITIES

OF ENTREPRENEURS.

■ STUDYING A PROBLEM, IDENTIFYING ITS ALTERNATIVES, AND COMPARING ALTERNATIVES IN TERMS

OF COST AND BENEFIT IMPLICATION, AND CHOOSING THE BEST ALTERNATIVE HELP IN
SHARPENING THE DECISION-MAKING SKILLS OF AN ENTREPRENEUR.

■ BESIDES, THESE MANAGERIAL CAPABILITIES ARE USED BY ENTREPRENEURS IN CREATING

NEW TECHNOLOGIES AND PRODUCTS IN PLACE OF OLDER TECHNOLOGIES AND PRODUCTS
RESULTING IN HIGHER PERFORMANCE.

B) CREATION OF ORGANIZATIONS
■ ENTREPRENEURSHIP RESULTS IN THE CREATION OF ORGANIZATIONS
WHEN ENTREPRENEURS
ASSEMBLE AND COORDINATE PHYSICAL, HUMAN, AND FINANCIAL RESOURCES AND DIRECT
THEM TOWARDS THE ACHIEVEMENT OF OBJECTIVES THROUGH MANAGERIAL SKILLS.

C) IMPROVING THE STANDARD OF LIVING

■ ENTREPRENEURSHIP HELPS IN MAKING A WIDE VARIETY OF GOODS AND SERVICES
AVAILABLE TO SOCIETY WHICH RESULTS IN A HIGHER STANDARD OF LIVING FOR THE
PEOPLE. POSSESSIONS OF LUXURY CARS, COMPUTERS, MOBILE PHONES, THE RAPID GROWTH
OF
SHOPPING MALLS, ETC. POINT TO THE RISING LIVING STANDARDS OF PEOPLE. ALL THESE ARE
DUE TO THE EFFORTS OF ENTREPRENEURS.

 D) MEANS OF ECONOMIC DEVELOPMENT.

■ ENTREPRENEURSHIP INVOLVES THE CREATION AND USE OF INNOVATIVE

IDEAS, MAXIMIZATION
OF OUTPUT FROM GIVEN RESOURCES, AND DEVELOPMENT OF MANAGERIAL
SKILLS. ALL
THESE FACTORS ARE ESSENTIAL TO THE DEVELOPMENT OF A COUNTRY.
 WHAT IS AN
ENTREPRENEUR?
WHAT IS A BUSINESS
OWNER?
ENTREPRENEURSHIP BECOMES IMPORTANT IN THE LIVES OF MOST FILIPINOS.
ENTREPRENEURS, WHO ARE THE FOUNDERS AND BUILDERS OF ENTERPRISES AND
BUSINESSES, ARE OFTEN CALLED THE NEW HEROES, WITH THEIR VISION AND HARD
WORK, AND
WITH THEIR EFFORTS TO PROVIDE JOBS AND OPPORTUNITIES TO MANY PEOPLE, HOPE TO
MOVE THE COUNTRY TOWARDS PROGRESS. ENTREPRENEURSHIP HAS BEEN HAILED AS
ONE OF THE TOOLS TO FIGHT POVERTY.

THE ENTREPRENEURIAL SPIRIT HAS BEEN CALLED THE FLAME OR RIVE THAT
INSPIRES PEOPLE TO START NEW ENDEAVORS AND PROJECTS, TO INNOVATE, AND
TO STRIVE AGAINST OBSTACLES IN ORDER TO ACHIEVE SUCCESS.
SINCE YOU HAVE LEARNED MUCH ABOUT IT, YOU HAVE NOW THE CORRECT
CONCEPT OF THE KEY COMPONENTS AND RELEVANCE OF ENTREPRENEURSHIP.
ACTIVITY 2 “FROM SCRAP TO CRAFT”

INSTRUCTION: MAKE ONE (1) PRODUCT OF YOUR OWN USING

ANY USED MATERIALS YOU CAN FIND
FROM YOUR HOME. AFTER THAT, YOU ARE GOING TO HAVE
A SELFIE WITH YOUR PRODUCT AND PRINT
IT ON CLEAN BOND PAPER. YOU ALSO HAVE TO WRITE
YOUR EXPERIENCE IN MAKING THE PRODUCT I THE YOUR
PRODUCT WILL BE RATED ACCORDING TO THE RUBRICS
BELOW.
RUBRICS:
ORIGINALITY - 20PTS.
CREATIVITY - 15PTS.
RELEVANCE - 10PTS.
APPEARANCE - 5PTS.
TOTAL - 50PTS.